Established in 1982, chartered financial planning firm Munro three offices in and around Glasgow. The business will form 1825’s Scottish regional office, from which it plans to build out across Scotland.
David Hughes, managing director of Munro Partnership, said: “Joining 1825 is an exciting phase in the development of our business and one which will bring increased benefits to both our employees and our clients.”
Steve Murray, chief executive of 1825, said: “We have a long-standing relationship with Munro Partnership and look forward to their highly skilled team playing a key role in broadening 1825’s reach into Scotland.”
Munro Partnerships has assets under advice in excess of £600m ($868.3M, €770.2M).
"The changing pension landscape and its inherent opportunities and risks have created a huge need for quality advice."
On Friday, Standard Life announced its acquisition of independent advice firm Almary Green. It was founded in 2001 by Carl Lamb, who will continue to head the business and join 1825’s executive committee.
Headquartered in Norwich, the firm serves the East Anglian region and has assets under advice of around £400m.
Carl Lamb, managing director of Almary Green, said: “The changing pension landscape and its inherent opportunities and risks have created a huge need for quality advice. As an industry, we need to bring advice to a wider audience and to change the advice model accordingly.
“Our challenge as a firm has been to scale up our business to meet the demand, ensuring we have the resources to provide cutting edge service and advice to clients and, at the same time, tackle the issues brought about by increasing regulatory requirements and costs. I truly believe that joining 1825 will give us the best foundation and resources to continue to rise to that challenge.”
Standard Life launched 1825 in February 2015 in response to fundamental regulatory and market changes that are driving unprecedented demand for advice from clients.
Following the completion of the acquisitions of Munro Partnership Limited and Almary Green, Standard Life will have 59 financial planners advising 8,700 clients on over £2.6bn of assets.
The acqusition of Almary is expected to close in the first half of 2016, while the Munro acquisition is expected to be completed by the end of July 2016, both pending regualtory approval.